Tata Consultancy Services' Investment to Bolster Domain Expertise in US Financial Services Industry, and Retirement Services
Tata
Consultancy Services, (TCS), (BSE: 532540, NSE: TCS) a leading global
IT services, consulting and business solutions organization, has
acquired the business of BridgePoint Group, LLC, a U.S. management
consulting firm catering to the financial services industry, and
specializing in retirement services, through the purchase of select
company assets.
TCS currently partners with eight of the top 10 US Banking,
Financial Services and Insurance institutions, and offers retirement
services across the globe. This acquisition augments TCS' financial
services and insurance domain knowledge, particularly in the area of US
retirement services, where BridgePoint's team of experts currently
provide strategic insights and advisory services around growth, business
agility, customer experience and technical transformation.
BridgePoint's entire management team and key experts will join
TCS. Their deep customer relationships and significant industry
knowledge adds to TCS' ability to provide digital solutions that enhance
sponsor and participant experience, and drive Business 4.0
transformations in the $1 trillion US retirement services market.
"The US retirement business is complex, so BridgePoint's deep
industry expertise and team of highly experienced consultants will
enable TCS to develop a robust customer-focused retirement services
business," said Suresh Muthuswami, President & Global Head, BFSI Platform, TCS. "This
move underscores our long-term commitment to this industry, enhancing
our ability to provide end-to-end engagements, from strategic consulting
to servicing of retirement assets. We welcome the BridgePoint team to
TCS."
"We are very excited about this transaction, being one that brings benefits to all parties," said Barbara March, Chief Executive Officer, BridgePoint. "Our
customers require access to new and innovative solutions, capitalizing
on both BridgePoint's broad understanding of the industry's complexities
and TCS' expertise in enabling digital transformations. The portfolio
of services offered by TCS will offer growth potential and superior
service to retirement providers across the US."
TCS Acquires BridgePoint Group
Reviewed by PhoenixMedia
on
December 04, 2018
Rating: 5
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